WAAREE Energies Limited announced significant leadership changes following its Board Meeting on Friday, March 20, 2026. Key outcomes include the early cessation of Mr. Amit Ashok Paithankar as Whole-Time Director and CEO, effective immediately. Concurrently, the Board approved the appointment of Mr. Jignesh Devchandbhai Rathod as the new Whole-Time Director and CEO starting March 21, 2026. Furthermore, Mr. Abhishek Pareek was appointed as the new Chief Financial Officer (CFO).
WAAREE Energies Announces Key Executive Transitions
The Board of Directors of WAAREE Energies Limited convened on Friday, March 20, 2026, to finalize several critical changes to its Key Managerial Personnel (KMP) and Senior Managerial Personnel (SMP) structure.
Cessation of Whole-Time Director and CEO
The Board took note of the mutual agreement with Mr. Amit Ashok Paithankar to relieve him from the position of Whole – Time Director and Chief Executive Officer, effective Friday, March 20, 2026. This date is earlier than the previously intimated date of May 15, 2026.
Appointment of New CEO and WTD
Following the recommendation of the Nomination and Remuneration Committee, the Board approved the appointment of Mr. Jignesh Devchandbhai Rathod, previously the CEO – Designate, as the new Whole-Time Director and Chief Executive Officer. This appointment is effective from Saturday, March 21, 2026, and is subject to shareholder approval. Mr. Rathod has been with the company since November 2007 and currently oversees operational functions at the factories.
CFO Cessation and Appointment
The Board acknowledged the cessation of Ms. Sonal Shrivastava from the position of Chief Financial Officer, effective from the closure of business hours on Friday, March 20, 2026, upon the completion of her notice period. Subsequently, based on the recommendations of the Nomination and Remuneration Committee and approval from the Audit Committee, Mr. Abhishek Pareek (presently Group Head Finance) was appointed as the Chief Financial Officer and KMP, effective Saturday, March 21, 2026.
New Senior Managerial Personnel (SMPs)
The Board also approved the appointment of the following individuals as Senior Managerial Personnels (SMPs) effective Wednesday, April 01, 2026:
- Mr. Munna Singh appointed as Deputy Chief Financial Officer (“Deputy CFO”). Mr. Singh is a Qualified Chartered Accountant with 20 years of experience.
- Mr. Varun Goenka appointed as President – Growth & Strategy. Mr. Goenka brings approximately 22–24 years of experience in Indian capital markets.
Annexure A Details: Mr. Jignesh Rathod
Mr. Rathod holds a Bachelor’s degree in engineering, an MBA in Business Administration, and a Doctorate (Ph.D.) in Business Administration. His term as WTD and CEO is appointed for five years, running from March 21, 2026, to March 20, 2031.
Annexure B Details: Mr. Abhishek Pareek
Mr. Pareek, who joined Waaree in 2017, is a seasoned finance leader with nearly 20 years of experience across corporate finance, treasury, and M&A. He is a Qualified Chartered Accountant and holds a PhD in Finance.
Source: BSE
